BDK raises estimates. (Disclosure: It is in my top 5 of my portfolio)
ATLANTA, April 6 (Reuters) - Tool maker Black & Decker Corp.(NYSE:BDK - News) on Tuesday raised its first-quarter earnings forecast, citing strong demand in North America.
The company's shares rose 2.2 percent in early trading.
The Towson, Maryland, maker of Price Pfister faucets, Kwikset locks and DeWalt drills said it expects earnings from continuing operations to be in the range of 90 cents to 93 cents a share, up from its previous guidance of 65 cents to 70 cents a share. A year earlier, Black & Decker had earnings of 55 cents, it said.
Analysts on average expect 69 cents a share, according to Reuters Research, a unit of Reuters Group Plc.
Black & Decker said it expects sales to rise 16 percent in the first quarter, or mid-single-digit sales growth excluding currency translations and acquisitions. |
